Guaranteed Activity with Blockchain Technology for Enterprises

The upside to the blockchain technology is that the applications that are created work as programmed. And, they work without downtime, fraud, censorship, or third-party interference.

The applications function on a
custom-built blockchain technology. The
blockchain being a global infrastructure is a shared ledger. Values can be stored in this ledger. The values can be related to promises, debts
or any kind of transaction. These
transactions are immutable and therefore very reliable.

Whether smart contracts, wallet, or any other decentralized application, blockchain can be used to write customized contracts for deployment. XinFin can help enterprises build decentralized applications with the XDC Protocol to help businesses operate in a tamper-proof, decentralized, yet crypto graphically secure environment. There are several such projects already operating successfully.

Designing and issuing cryptocurrency is just one of the many potentials of the blockchain technology. Anyone who is looking to issue a token, can create a trade-able token, however, with a fixed supply value for which the central bank will be able to issue money. The cryptocurrency will be built based on a puzzle.

Most of the cryptocurrency coins are created to support projects with funds and therefore start with a crowdsale. For those who already have some bright ideas, this can be very useful interms of fundraising. For any project to take off, money is a significant requirement. However, who will lend money? No one is going to give money to something or someone they do not know or trust.

The blockchain technology is now widely used to create tokens that can be issued for a value, and the blockchain will hold the value until the goal is reached. Depending on the terms of the lending contract, the funds will bereleased to the project owners for executing the project or the money will bereturned to the contributors as agreed. This will happen without a clearing house or an arbitrator when the blockchain technology is used. Pre-selling a product in a crowdsale is one of the intended applications of blockchain technology.

The economic development of any population is based on the execution of ideas and the funds that help the scheme to progress to a fruitful launch to ultimately serve the society. So, when you make use of the applications from blockchain technology, it is like a robot is taking care of the core functionalities of the organization.

The advantage is that everything will take place as you got it programmed and nothing will be censored in the execution. It is not possible to corrupt the executable of a project. The executions take place as a guaranteed activity.

About The Author

A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.